0XSE trade ideas
Infosys new boss new airsSince January 2, Infosys has a new CEO who, under the eyes of specialists, brings new airs and clear goals.
At least from here to the next resistance we must see Infosys rise like a champion.
Infosys Struggling to hold on to support level - Short setupInfosys seems to be struggling to hold on to support level of 915-905 on weekly charts.
The chart structure looks really weak and a break below 900 would drag it to levels of 840 levels which should potentially act as the next support level (July - Aug 2014 level).
Trading strategy :
Short @ current level of 916
Keep stop @ 954
Target price : 840
Reward to risk - 2:1
Disclosure : The view expressed above is my own analysis on the stock. You are responsible for your own investment / trading decisions.
Infosys - Didn't We Tell You Moment - Part 2 ;)Finally Infosys saga has turned the way we anticipated about a year ago ( check out the linked posts ). Now since you can not fool all the investors all the time, Rs. 13,000 crore buyback plan has been received by the investor the way it should have been! Why? Because the right time for buyback was many years back when clients of the major IT firms were so naive to pay $50/hr for $5 work. Now the fact is out and Indian IT firms exponential growth is about to top out.
Conflict between the celebrity founder Mr. Narayana Murthy and outsider CEO Mr. Vishal Sikka is sideshow compared to the main reasons going to dog the stock price in near future. One of the things - Severance pay packages of few crore they were fighting for is peanuts compared to Rs. 13,000 crore being totally wasted buying the Infosys stock back at Rs. 1150 ! Investor would have been better off with one time more dividend instead in our opinion. But well, we don't care. As a trader we are just looking for next profitable trade out of the situation :) Our though process in the stock has helped us make good fortune out of last few years price action ( which you can check out in those old posts ) and now it is time to move forward.
Nope, we are not going to short the stock! Rather looking again for good buy-side trade opportunities. A next band lower, between 600 and 800 is going to proved many such opportunities and we are just waiting for the stock to come to our preferred levels.
buy signal has been generated in the DAILY FINANCIAL WISDOM: "In trading you can fool yourself, but you can't fool your trading account into fooling itself... (All signals for member educational purposes only).
buyDAILY FINANCIAL WISDOM: "To become a great trader, two things are needed; a plan, and not quite enough time
INFOSYS TRIPLE BOTTOM NEAR THE SUPPORT ZONEMARKET ANALYSIS: The pair is trading near the major support zone. Also we a are seeing a formation of triple bottom near the support level. So if the support holds on we can see a trend momentum towards the next possible resistance. So lets wait and see what the market does in the coming days. Cheers!
Infosys, on the verge of Confirming a double bottomPlease see explanation in chart. Long only at close above 1040 with volumes.
Divergence signal followed by a gap-up formation with volumesPrice is building up above the SMA50 level with improved volumes. It is certainly a clear flag formation breakout as well.
With the gap-up pattern, we expect the target will be envisaged around US$16.09.
Meanwhile, support will be located around US$15.13, US$14.82 and US$14.60.
Infosys rising Channel breakdowm (Educational)The stock has seen Rising channel breakdown pattern multiple times on both weekly and daily charts. The initial breakdown from long term trend was seen at 1020 levels and the stock fell to 900 levels and retested the 1020 levels and now has created a fresh rising channel breakdown at 950 level and probably may drift down to 850-870 levels in next few weeks
DNA STRATEGIES generated a buy signal generated buy signals in INFY. Entries, exits , TP
DAILY FINANCIAL WISDOM: Always remember, trading is simple. It's the trader who makes it more difficult than it has to be.
